New Delhi, Jan 12 (TIWN) The Supreme Court on Wednesday warned real estate company Supertech of "consequences" over the non-payment of refund to home buyers, who had paid for flats in two 40-storey towers which are being demolished on the court's order.

Senior advocate Ravindra Kumar, representing the Noida authority, knowledgeable the highest court docket that the authority has virtually finalised the company, which might conduct the demolition of dual towers of the Supertech Emerald Court housing undertaking.  A contempt plea was filed by home buyers, who had paid for the flats in two 40-storey towers. Home buyers have alleged that Supertech referred to as them to gather the refund, nonetheless, they have been later informed that fee can be made in instalments, together with sure deductions. Counsel, representing the home buyers, mentioned the home buyers are aggrieved with the delay in the refund and likewise added that the court docket order didn’t point out about any deduction.  In its August 31 judgment, the Supreme Court, in addition to ordering demolition of Supertech twin towers in Noida and refund for the flat purchasers, ordered prosecution of errant NOIDA and actual property firm officers beneath Section 49 of Uttar Pradesh Urban Development (UPUD) Act for his or her “nefarious complicity”, which resulted in the development of towers.